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NEW YORK (AP) — It's the worst weekly loss in two and a half years for the financial markets. A rout in oil prices shook the market yesterday as investors became concerned that slumping oil demand is signaling that growth outside of the U.S. is weaker than earlier thought. The Dow dropped 1.8 percent. The S&P 500 fell 1.6 percent and the Nasdaq lost 1.2 percent.
NEW YORK (AP) — The rapid decline in oil prices continues. Oil fell again yesterday after the International Energy Agency said global demand will grow less than previously forecast next year. Benchmark U.S. crude slipped $2.14, or 3.6 percent, to $57.81 a barrel in New York. Brent crude, lost $1.83, or 2.9 percent, closing at $61.85 a barrel in London.
LONDON (AP) — Britain's air traffic management company says an unprecedented computer systems failure caused yesterday's flight disruptions. The company says the problems at its control center in Swanwick occurred as more workstations were being brought on line to deal with an increase in traffic. The computer failure prevented planes from taking off, but those in the air and close to airports were allowed to land during the shutdown, which lasted about 35 minutes.
LINTHICUM, Md. (AP) — Authorities say a Southwest Airlines jet landed safely at Baltimore-Washington International airport last night after hitting a bird. Some witnesses told WJZ-TV that they saw a burst of fire from the jet. Flight 3118 originated in San Antonio. Southwest says the airliner was carrying 142 passengers and a crew of five. The plane was taken out of service to be inspected.
NEW YORK (AP) — Authorities say they've arrested a lawyer whose attempted suicide revealed a $5 million Ponzi scheme in which he tried to defraud dozens of investors. A criminal complaint says New York City police recovered a handwritten suicide note signed by Charles A. Bennett titled: "A Sad Ending to My Life." Authorities say he jumped into the Hudson River from a pier on Nov. 3.
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